Nathan,Can you share how you trade the VIX to capitalize on the situations mentioned in your article. Depending on the situation I will either buy XIV or buy Puts on UVXY, both of which have worked very well for me (especially the puts). Interested to hear your thought and strategies. Also, how long do you hold your positions for? Even after the event has resolved itself I will still hold XIV if there is substantial contango to take advantage of

J,Great article, and as you know I'm following you on those August options. While I spent a few years covering the domestic shale industry, this industry is a bit new to me. One thing that the article didn't mention that would help my understanding is how the price of oil directly/indirectly affects the shipping spot rates. With OPEC continuing to increase production and inventory build-ups in the US, what is the ideal situation in Oil prices for FRO? Thanks!

Victor,If you keep an eye out for the number of people wearing jawbone, fitbit, or other fitness-related devices, you'll see that there is a large addressable market. Not saying that the iwatch will be a hit, but the market is much more than just "watch wearers"

What about the theory that the VIX has been less volatile than in the past due to the introduction on volatility based ETNs around 2010-2011 that allow investors to hedge without having to buy SPY puts like they would have in the past? Thus less buyers of SPY puts when fear is high puts less upward pressure on the VIX.

Nathan,Since you can't predict when the inevitable crash will ultimately occur, wouldn't it make more sense to buy SVXY/XIV after a huge volatility spike after something like we saw in 2008 and 2011? I believe that way your downside on the short volatility products would be somewhat limited. What are your thoughts?

Yeah XIV is one that I play sporadically but will be ready to mortgage the house and get into when another crisis happens. I originally got in at $4.50 but sold around $10 and have traded in and out since then. wish i had just bought and held...

I was thinking the same thing Clayton. Although the article made a compelling argument for a reason to buy ahead of the FDA decision, a "best pick for 2014" should technically start tomorrow. I sympathize with those that bought prior to the 65% drop, but such is the case of playing with stocks prior to an FDA approval. Blaming Chris that one part of his overall thesis didn't play out, and 52 weeks prior to actually realizing the performance of his 2014 pick, is very off base in my opinion.

I have made multiple trading decisions that have cost me plenty, but the best thing to do is learn from it and re-evaluate the position (not blame others that you made it in the first place). As far as I know, Chris didn't force anyone to make the purchase or bought it on their behalf. I think if you believed in the overall thesis before it dropped, now is an even more compelling valuation and I entered a position after the drop.

Hopefully Chris will give us his update soon. Good luck to everyone and Happy New Year

I'm with Michael on this one. Even if we are in a bubble (which I believe we are), there is no specific time frame for the bubble to pop and if it takes longer than several weeks or months, you will have taken substantial losses on your UVXY position and will be hoping to break even at that point. Terrible suggestion for other investors who follow your articles.